Carolina Torreblanca
University of Pennsylvania
Global Development: Intermediate Topics in Politics, Policy, and Data
PSCI 3200 - Spring 2026
Does temperature affect economic growth? Does the effect differ by income?
Hypothesis: Higher temperatures reduce growth in poor countries but not rich ones
Key insight: year-to-year temperature fluctuations are plausibly exogenous
125 countries, 1950–2003. Temperature from gridded weather data. GDP growth from Penn World Tables.
\[\Delta \ln y_{it} = \beta_1 T_{it} + \beta_2 P_{it} + \alpha_i + \gamma_t + \epsilon_{it}\]
Col (1): no effect on average across all countries.
Col (2): temperature interacted with a poor country dummy. Large and significant (-1.655***).
Marginal effect in poor countries: β_temp + β_interaction = -1.4pp. Same logic as slopes().
Two common cases:
DV is \(\ln Y\) (log levels): \(\hat\beta \times 100\) = approximate % change in \(Y\)
DV is \(\Delta \ln Y\) (log difference = growth rate): \(\hat\beta\) is directly a percentage point change in the growth rate – no multiplication needed, since the DV is already a percent change
Dell et al. use \(\Delta \ln y_{it}\) as DV – so \(\hat\beta = -0.013\) means 1°C above normal reduces the growth rate by 1.3 percentage points directly.
| \(Y\) in levels | \(Y\) logged | |
|---|---|---|
| \(X\) in levels | \(\hat\beta\) units | \(\hat\beta \times 100\)% change in \(Y\) |
| \(X\) logged | \(\hat\beta / 100\) units per 1% change in \(X\) | \(\hat\beta\)% change in \(Y\) per 1% change in \(X\) |